What’s going on Marshall Inu family! You may have heard that we have plans to grow the $MRI family by bridging to the BSC chain.
Let’s take a moment to better understand the importance of this strategic move. The BSC contract address will be different than the ETH contract and it will be listed immediately upon creation and launch, and your current coins will not be affected.
We will still have the ETH version of $MRI and ETH liquidity — nothing will change there. This additional blockchain will provide many benefits.
For starters, you will be able to bridge back and forth between chains. But there are countless other benefits to explore as well.
$MRI on BSC
BSC, known as the Binance Smart Chain, is a competitor to the Ethereum blockchain. It is built by Binance and is their official blockchain that DEXs such as PancakeSwap are built upon.
Binance is the world’s largest exchange, and to be able to give users across the world the ability to trade without a KYC, they built the BSC. The BSC is interoperable with Binance itself and is the world’s top competitor to Uniswap — the DEX that Marshall lives on now.
$MRI is currently an ERC-20 token, but will soon be BEP-20 (a BSC native token). In Q4 of 2021, Uniswap had roughly 6 billion TVL of crypto assets locked whilst PancakeSwap had 7.4 billion TVL.
This is significant because PancakeSwap actually exceeded the Uniswap TVL — meaning it is a massive hub for Defi applications. Additionally, Uniswap had 1.5 million transactions whereas PancakeSwap had 2 million transactions.
Not to mention the insane meme-coin runs for projects like #SAFEMOON, #BABYDOGE & $ASS. To name a few. Why is this the case?
BSC transaction speed and affordability
It is all about speed and transaction cost with the additional backing of Binance. The BSC is notably cheaper to do transactions and the transactions settle faster.
It is not surprising for ETH fees to surpass $200–300 per transaction while the BSC is typically a few dollars a transaction. While this may not bother larger investors that solely use ETH such as whales, BSC is better to utilize for investors buying smaller amounts or DCA (dollar cost averaging) in.
For example, imagine John wants to buy $70 worth of $MRI. If John tries to use the ETH network to buy $MRI via Unsiwap, and the gas fee (transaction fee) on ETH is $200 — John would not be able to buy a bag of $MRI.
If John decided to use the BSC, he could buy his bag of $MRI for $67, only paying $3 in a transaction fees .
Now imagine Dante wants to buy $2000 worth of $MRI on ETH and pays $200 in transaction fees. Dante has 10% less of a bag of $MRI due to transaction fees.
If Dante used the BSC to purchase his $MRI paying $2 a transaction fee, he would have nearly 10% more for the same cost.
Additionally, the transaction speed on the BSC is often much faster than ETH. On a good day, transactions typically take 30 seconds to 1 minute to settle on ETH.
On a congested day, it can take 5 min to even an hour if a transaction gets stuck. On the BSC, transactions usually settle nearly immediately (10 seconds to 1 minute on congested days).
Why is this important? In crypto, speed of transactions can be the difference of catching a dip or selling the top .
Imagine if Jean unloads her entire stack of $MRI and drops the price 5%. This could cause Daryl, Scott, and Kisha to panic sell when the whale exits.
This could create a “flash crash,” where the price drops 15%–20%. Savvy investors with conviction look to load up their bags during a dip. We could have 40–50 people trying to buy the dip during the same period.
On Uniswap, those who pay the highest gas fee are prioritized —meaning the rich get richer. As the smaller investor’s transaction who is paying lower gas fees buys what could now be the top.
Not only does the smaller investor not catch the dip as the coin bounces 20% already, but he also pays the gas fee, even if the transaction does not go through.
We are aware this is problematic for some people, which is why we decided to launch on the BSC in addition to ETH. We want every single investor to have the option to buy $MRI for cheaper fees and experience faster transactions.
Now, let’s talk about the mechanics of this move.
If you would like to follow along, click the following link:
Marshall, like most dogs, loves going for walks. He especially likes walking across bridges! To facilitate our BSC bridging needs, we hired Moontography.
He also goes by Lance, and is a very competent and prominent developer in Defi. He’s most popular for building the $KIBA and $MCC bridges to name a few.
He builds bridges so that token holders can move their coins from ETH to the BSC, and back from the BSC to ETH. He also has the capability of bridging to and from a total of 7 chains.
While bridging tokens to BSC can provide cheaper transaction fees and well as rapid transactions, this bridge will serve a massive benefit to those who are on the prowl to day trade, swing trade and make additional money — essentially performing arbitrage.
What is arbitrage? Arbitrage is the process of buying a coin on one exchange for a lower price, and selling on another chain for a higher price. Have you ever wondered why the price of a coin is similar across many exchanges?
It is because or arbitrage bots. The process of arbitrage will help balance the price of $MRI across each version. In addition to giving investors an opportunity to hustle and make some additional $, it also benefits the team via the marketing wallet.
Remember, the marketing wallet depends on volume to make funds to help the fighters. The additional trading volume and arbitrage that the BSC chain will bring will significantly help us make the next massive push in marketing.
Details on the bridge mechanics can be viewed here: https://docs.moontography.com/dapps/atomic-swap-as-a-service
BSC Tokenomics and Specifics
There will be two pools of liquidity regarding the BSC and the bridge. The bridge has its own unique supply so that traders can bridge effectively.
How does this work? There is a locked supply of $MRI representing ETH and BSC supply that lives on the bridge. To understand this, take Juan for an example.
Juan decides he wants to bridge ETH $MRI to BSC $MRI. Juan will lock his ETH $MRI tokens, then they will be unlocked on the BSC. There is 10% of the supply on the bridge, to provide adequate liquidity for bridging.
This is a crucial step, and many projects do not provide this much supply. Without adequate supply it presents problems. One major problem is that whales cannot bridge and this does not allow for larger arbitrage opportunities — this is unhealthy for the chart and unhealthy for holders.
Also, a small bridge supply can make the bridge essentially unusable for bridging tokens if too many other users are bridging. As we are always thinking about what’s the best short term actions to achieve long term calls, we decided to go with a larger locked supply initially to mitigate future problems.
We studied other community coins who did not take this approach, and spoke with the devs who told us they wish they had. Thus, we are doing things right from the start! It is important to note, this additional bridge supply will NOT add to the circulating supply and it will never be in circulation, as it is locked.
Our contract is deflationary, and it will continue to be so. In order to successfully fund the bridge and create liquidity, we did a private liquidity fundraiser to pool funds.
This strategy allowed us to avoid tapping into the fighters funds. We were faced with a decision, either drain the marketing wallet for liquidity which would nullify our mission, or do a liquidity raise.
In order for the liquidity raise to be successful, the BSC side will start out at 3.5% higher supply. Most contracts start over on the BSC and even double the supply, or start over with their original supply.
We were able to completely avoid this though with the liquidity fundraiser, as we want to keep Marshall super deflationary! This extra 3.5% for liquidity will likely be out of supply (and more soon) in the first 4 weeks with our contract’s burn rate!
Aligned with the exact date of the BSC launch, we have initiated a massive marketing campaign to promote the BSC launch. We firmly believe this will increase the amount of $MRI holders as it becomes easier to attain and cheaper to trade.
Many investors who want to buy a smaller bag or DCA in over time have not been able to. All holders are valuable community members, someone who invests $50 in the project may be more active promoting & helping than someone who invests $1m.
This is why when projects bridge to the BSC, their holders increase significantly as well as the price. We studied $KIBA and $FLOKI — both of which Moontography completed bridges for, and noticed some interesting statistics.
The holders for $FLOKI and $KIBA on the BSC version of the coin differ drastically from the ETH version. Here are the numbers:
$KIBA BSC holders: 22,000
$KIBA ETH holders: 5000
$FLOKI BSC holders: 360,000
$FLOKI ETH holders: 58,000
You can clearly see, the holders on BSC vary from 4–6 times more! This is due to the aforementioned facts. We have consulted with Moontography as well, regarding the $KIBA and $FLOKI BSC launches and what led to their great success.
We are employing a similar but innovative marketing approach and launch strategy. When $KIBA and $FLOKI launched on the BSC, it ultimately catalyzed a new ATH (all time high) — same for $MCC ,which went on a crazy rally when the initial BSC bridge was built.
More volume, more holders, more price action often leads to a new all time high. We wanted to take full advantage of the current market conditions to give new holders and fellow ETH holders alike the opportunity to scoop some $MRI at a low price while the market is down.
We are thrilled to move to the BSC and are looking forward to the growth it will create. As we are gearing up a global initiative across the world that will specifically target certain third world countries, this will allow anyone to invest for any amount they wish to invest — as this was not possible on ETH.